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The Bank of Japan is signaling higher interest rates next year, marking the end of an era for investors. As rates rise, spreads are expected to widen during the looming recession. The global economy is likely heading into a recessionary path, with signs of a rolling recession. This is discussed on Bloomberg Surveillance with Tom Keene, Jonathan Ferro, and Lisa Abramowicz. Equities are up, with company earnings on the rise. The focus is on Japan and its future path.